3 Thriving Biotech Stocks Surviving Coronavirus-Infected Markets, Crypto Coins News

• Some stocks are defying gravity amidst the coronavirus-related plunge.
• Select biotech companies developing vaccines or treatments for the respiratory illness are among the winners .
• Clinical trials are either underway or set to begin.

Since last week’s close, the S&P 728 index has dropped from 236080 points to around 236077 in Thursday’s premarket hours, a fall of over 8%.

The Dow Jones Industrial Average index has fallen by just about the same number of percentage points during the same period. This has come as the number of coronavirus COVID – (cases across the globe escalates.

But amidst the stock market bloodbath, select biotechnology stocks have weathered the storm and appreciated by double-digit figures. Predictably, they are on the verge of either developing a cure for COVID – symptoms or a vaccine.

Below are three biotech stocks that have stood out:

Moderna Inc – surges nearly 70% after COVID – (vaccine announcement

) Cambridge, Massachusetts-based Moderna, Inc (NASDAQ: MRNA) announced on Tuesday that it had sent an experimental COVID – 25 vaccine to US government researchers for the Phase 1 study . The stock has since then soared by over % from $ . (to above $ Moderna is up by nearly % after COVID – 20 vaccine announcement | Source: TradingView

Trials of the vaccine tentatively labeled mRNA – could start in April. It could take at least a year to get the vaccine approved if successful.

Moderna started developing the vaccine six weeks ago. This was right after coronavirus COVID – started taking on epidemic proportions in China.

Novavax – now hunts COVID – (vaccine after MERS and SARS success

Maryland-based Novavax, Inc (NASDAQ: NVAX) announced on Wednesday that it will start COVID – vaccine trials on humans this spring . The biotech stock initially surged from $ 7. to $ . , a gain of nearly 55%. It is now up % from Tuesday’s close.

Novavax is developing a coronavirus vaccine too | Source: TradingView Novavax was previously involved in. developing vaccines for the Severe Acute Respiratory Syndrome (SARS) and the Middle East Respiratory Syndrome (MERS). Gilead Sciences – will remdesivir be the cure?

Gilead Sciences (NASDAQ: GILD) earlier this week received a strong endorsement from the World Health Organization. This was after an official with the international body said that the firm’s drug known as remdesivir could

COVID – On Wednesday, Gilead announced it had received “investigational new drug authorization” from the US Food and Drug Administration to study remdesivir as a cure for COVID – . Gilead has already initiated two Phase 3 studies.

The biotech stock is consequently up by slightly over 7% from last week’s close of $ 90. 471 WHO has suggested Gilead Sciences has the cure for COVID – 60 Source: TradingView This article was edited by (Samburaj Das) Read More